RGB-based NFT marketplace launches with Bitcoin 2023

DIBA, the first Bitcoin NFT marketplace that uses RGB smart contracts, has officially launched on the mainnet. The platform is introducing BitMask, an exclusive Bitcoin-only wallet that can store unique digital assets (UDAs) like music and art. Hut 8, a publicly traded bitcoin miner in North America, will provide high availability storage and cloud services for the UDAs. According to a press release sent to Bitcoin Magazine, DIBA aims to bring Bitcoin utility to the masses by enabling the exchange of UDAs on a decentralized and censorship-resistant network. Notable bitcoin investors, including Tim Draper of Draper Associates and Bill Tai of ACTAI Unicorn Fund, support the venture. The founder and CEO of DIBA, Gideon Nweze, expressed his excitement about the launch, stating that “This marks a major milestone in the transition of the internet onto Bitcoin.”

Tim Draper also commended DIBA’s innovative approach and emphasized the potential of NFTs on Bitcoin. He said, “What Gideon and the team at DIBA have built is a testament to the potential NFTs on Bitcoin hold in capturing the creative and sovereign spirit of this next generation.”

DIBA’s partnership with Hut 8 is another example of the optimism surrounding Bitcoin and Layer 1 and 2 protocols. Josh Rayner, VP of High Performance Computing at Hut 8, expressed support for the Bitcoin NFT platform, stating, “We are bullish on Bitcoin and the potential of Layer 1 and 2 protocols, and are proud to support DIBA’s Bitcoin NFT platform with high availability storage and cloud services.”

According to the press release, the DIBA marketplace utilizes both the RGB smart contract protocol on Bitcoin, as well as the Lightning Network to maximize the efficiency of the marketplace’s functions.